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Originally Posted by patricio_w
On the 60m data i make another posible scenario to the downside.
This bearish look is on the idea than the W2 is not in place, lookin at the complex correction we are seeing actually. This complex corretion of and ABDCE after an ABC correction, it has its target between 1.1996 and 1.1930. The typical correction of a W2 in this case is between 0.500 and 0.618 of the W1, that is 1.1977 and 1.1930, also a WC typical target is the Alternate Price Pojection of the WA and the retracements of the WB, that is on the chart 1.1996 and 1.1947.
Lokking at the trend reversal yesterday on the oscilator the chances are in favor at first on the downside, lokking for the bottom of the W2
If th triangule drow on the chart is broke on the upside reaching the 1.2174 (WBhigh) or even reaching 1.2178 (W1high) that will signal than W2 should be complete or near completition, and this anylisis is out
Para este mismo analisis en espaņol richdad.com.ar
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hello patricio_w
i hope you dont mind me attaching another chart of eurusd 15tf of a-b-c waves this is what i am getting prepared for monday going to watch how it develops